The company will be setting up a new manufacturing facility dedicated for Civil Aerospace production at Hosur
Tamil Nadu-based MSME unit Aerospace Engineers Private Limited has bagged a long-term contract to manufacture and supply critical aviation components and parts to aerospace company Boeing.
The company, which is based in Tamil Nadu’s Salem, will be setting up a new manufacturing facility dedicated to Civil Aerospace production at Hosur with covered building space of 1,25,000 square feet.
It is also expanding its existing Salem facility with an additional covered building space of 50,000 square feet over the next 24 months with an investment of Rs 150 crore. This additional facility will generate employment for 1,000 people.
The contract order was handed over in the presence of chief minister M K Stalin to R Sundaram, CEO and MD Aerospace Engineers Private Limited, by Ashwani Bhargava, director, supply chain management, Boeing India.
“This contract is a testament to the quality, precision, and collaborative culture of MSMEs in Tamil Nadu. The cooperation between Aerospace Engineers Private Limited and Boeing will provide an impetus to the growing aerospace and defence ecosystem in Salem and Hosur and Tamil Nadu Defence Industrial Corridor,” the company said in a statement.
Boeing recently released its annual forecast for the commercial, defence and space aerospace market, reflecting signs of the industry’s recovery following the impacts of COVID-19.
The new Commercial Market Outlook (CMO) reflects that the global market is recovering largely as Boeing projected in 2020. Within the Boeing Market Outlook, the CMO projects 10-year global demand for 19,000 commercial airplanes valued at $3.2 trillion. Boeing’s 20-year commercial forecast through 2040 projects demand more than 43,500 new airplanes valued at $7.2 trillion, an increase of about 500 planes over last year’s forecast.
